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tv   Cavuto  FOX Business  March 20, 2013 8:00pm-9:00pm EDT

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turns over health care legislation, obamacare to read in pelosi. turns over immigration now to the gang of eight, bipartisan gang of eight. he turns over gun control to read. i mean, this is a game that he is playing and winning apparently. >> and from the very beginning he has done that. he started by turning over the stimulus to the congress. the stimulus wrote the bill. the kind of -- it's his attitude. this so-called government style which is he believes that they should be doing the dirty work. he is sitting above the whole process. they should be bringing these things to him. he will sign whatever is put in front of him. so the assault weapons ban goes down because he doesn't have the votes to push it through. then where is obama? keys in israel. >> the president, working on the n.c.a.a. bracket.
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he should be doing michele on espn. lou: that's next. >> exactly. lou: of we going to see meaningful, whenever meeting you want to assign to it, meaningful gun legislation out of this congress? >> i think we're likely to see the background check which i thought from the very beginning was the most likely outcome. it pulls well, the kind of thing the republicans don't feel like i want to stand up and fight on including some nra members and some leaders. you're not going to get an assault weapons ban. i don't think you're going to get -- none of the things that the president really wanted. it's not going to happen. >> politics is a trump card because to survey the landscape and saw a number of vulnerable democrats. and cultures. lou: 15 democratic senators make
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you for being with us. thank you. that's it for us. coming up tomorrow, we will be talking guns. here to keep it all straight. see you tomorrow. good night from new york. ♪ neil: a job at cbs? well, you better hop on a scale and tell them what you wait. i'm neil cavuto. let's just say, i've taken retiring, get a job as a cashier at cvs of my pocket less. fat chance i would even get the chance. requiring workers to report their weight, even their body fat. glucose levels to the company's health insurer if they still want to be covered by that health insurer . do that are paid $600 a year penalty. i bet you they're not. the company asking you to step on a scale. agree to it and pretty soon
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they're pretty much stepping all over you and the dignity, pride. this is in for a job. the defense department are leaving goldman 200,000 workers. all of them here use the company's insurance. these figures by may 1st. this is me. and then. i know it's got to be bad. seeing red. this is very stupid. reason magazine. you is sick of hearing that.
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so what you make of this? >> well, i like he spars, but i don't like this policy. really two issues to force this. health-insurance premiums, the cost trend is going up and there's no sign of the slowing are changing direction anytime soon. employers consistently point to health costs as one of their top concerns. another side of this is obamacare. quite frankly we heard so much about how we don't want our bosses and personal business. we don't want our bosses and our health care information. when they are one of the many payers, they become very interested in how much we will cost them in terms of health insurance and cost. neil: you raise a good point in that it is perfectly understandable in this environment to watch your costs. once the risks to this up costs. why, why, why. >> we have our health insurance dictated by where we work.
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what is that? that is because of wage and price controls, world war ii era, and we -- neil: i understand. >> it is what it is, but that is what you get. will double down the existing system and cement that time between employer and employee. neil: or you serve it with a government single payer system. >> ultimately you don't own your own information. this is inevitable croupy result of really bad public policy. neil: the producers after the show. >> you're going to see more and more of this, especially from large and medium-sized organizations. cbs with 200,000 employees, they
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are just mimicking what the federal government is modeling. be evasive, control the health care cost. neil: i don't like the intrusion, but i understand what they're up against. >> up against increased health care costs. think about it. there are a public entity. their job is to add shareholder value and equity. if they get to lower air expenses by having more help the employees, that's what they're going to do. it does not make it any better. sharing information. neil: cvs said they are not doing this. i want to quote them. we want to help our employees to be as effective as they can be which is why we decided to implement this plan you're fat, don't be here. i could be wrong, but i'm reading into that, that certainly if you're not going to hop on the scale or provide any of this stuff, they've assumed
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you're unhealthy anyway; right? >> right. you know, mit health economist john grouper looked at the policy, uneasy about it saying there's a thin line between discriminating between sick workers and have a wellness program. they might be looking into getting the benefit provider to suggest a wellness program, but as matt mentioned, the best wellness program is giving individuals the opportunity to oversee their own health care, their own health care decisions, and that is the only kind of empowerment that comes through direct transactions from patients and doctors without all these many payers in the system clogging up the paperwork and pipeline of money in between. >> neil, duke university did a study, and they showed that obese individuals cost up to 51,000 or 52,000 worker's comp claims comparee to a healthy individual of 7,000. cvs says it's pure numbers. plain and simple. they are not looking at the humanistic side of this, which is what we are discussing now.
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they care about the numbers. neil: i understand, but, matt, i think there's a threat here, and it could just veer this direction where we create this master working race; right? thin fit people, not people who are limping or fat or fat and limping because they just look risky. >> you can agree -- you can have a policy to not hire smokers in more than 20 states in the country, legally. you know, fire departments, routinely hospitals, say we'll drug test you, look into your urine to see whether you're lying to us about being a smoker, and if you lie, they can fire you with cause, and there's nothing to do about it. neil: i'm not a fan of this, but some of those places, like a hospital, i can see it; right? let's say the cashier at cvs -- >> no, i had to take a drug test at the "los angeles times" -- neil: did you pass it in >> i don't know, i didn't get a grade. when i worked for the university
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of california, i had to sign a loyalty oath to defend the constitution of the state of california in order to work there, and so, yeah, it's not voluntary, but it's a job, and we can discriminate, legally, in this country. neil: you're right, but it can lead to snitching; right? you're a thin guy, but i'm all the sudden going to the boss and saying, you know, he goes to wendy's all the way. he'll be a fat guy. we might cut him now before he -- >> part of the challenge, we want the big macs, buttwe want health care to care for us when we have diabetes. we can't have it all the way all the time. neil: you understand this, sign on to this, sign to the end of freedom as we know it. >> i understand why corporations decide to do it. there needs to be a balance, and i think using and sentive rather than a punishment is the way to go. that's what i do at my company. neil: if your workers ignore incentives, what do you do? >> in my business? there's not a penalty for not
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complying. we have wellness programs -- neil: you look at them all the time; right? >> that's not the way it happens. most employers don't look at the staff that way. neil: okay. he's right, but the finnick in he says it leads to that. >> people are syringes. every person has their own body, their own health care needs. they have, you know, their preferences, how often they want to see a doctor or not, and, also, things impact health care costs. studies about groups of people or how overweight you might think this or that worker is puts people into groups and classes. bottom line with health care, there's no one size fits all. that's the mistake of obamacare and any federal top-down health care program. that's why we need to empower individuals to interact directly with patients. neil: thank you. in the meantime, i'll try to get hands op that, you know, the reports submitted over at the l.a. times, the tests and all. i'm not buying it. kidding.
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meanwhile, you thought businesses were riled up about the minimum wage going up to nine bucks an hour. wait in the elizabeth lauren gets it up to $22 an hour. don't laugh. the new seen senator is serious. good-bye wall street, hello anywhere else. governor cuomo did something today that a certain billionaire feels closed new york is closed for business for all days. that's next. look, if you have copd like me,
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vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd spiriva helps me breathe better. (blowing sou) ask your doctor about spiriva. neil: write it down. today is the day new york put its going out of business signs up. the day new york governor andrew cuomo took what was supposed to be a temporary hike of taxes on but made them perm innocent locking in place an 8.8% top rate that could have new york's most productive residents taking
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eyes, and it's could take a hike, but will. i was thinking of that, will burr, it's another 9% on the top rate, close to 40%, half writeoffs saying nothing of the other taxes. you're paying 50% in taxes right out the gate. what's the deal? >> well, it's disappointing in that the business community, and the temporary increase part of the overall -- neil: must have known it was not temporary. >> well, no, we believed it would be, and went along with it as part of the overall reform, and he did make some good reforms, but this one is quite different. as far as i can see, this is paired with the $350 check being dulled out to sort of upper middle class people, and then -- neil: robbing peter to pay paul. >> yeah. neil: you think you were snickered?
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>> a direct money transfer from people in one income bracket to people in another income bracket. neil: so here you were trying to be pragmatic of this, this guy might be a different type of democrat, unlike his dad, what? >> well, the other strange thing is that raising the minimum wage to $9 over a couple year period -- neil:ments to be high -- wants to be higher than that, go ahead. >> well, in new york -- neil: right. >> and giving rebates to businesses for hiring people under 20 years of age. i'd hate to be a 21-year-old high school dropout or somebody who just finished high school because you're make me unemployeeble relative to a person a year younger. neil: you keep going through the training. beyond that, they bring in more people to train at a lower wage. >> i think that's the danger of that because it's just an artificial boundary. neil: you know, wilbur, they
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must have crunched number on this, they were getting numbers on this millionaire tax, and contrary to the revenue declining, we get revenue in like the obama folks are looking at the new revenues coming in from the tax hikes, say, well, tax hikes work. the revenue comes in. keep it going. >> well, it affects 32,000 taxpayers in new york, about half of whom are new york city people so it's really a very discriminatory thing against new york city. neil: the argument is they are not leaving. they are not going. you think they will? >> well, people already have been going, but more importantly, are you going to get the people who otherwise woif brought a business into new york. to make the economy grow, you need inbound migration, not outbound migration. neil: it's a dollar's choice for you; right? i mean, you could go to north dakota, but north dakota's
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pretty far from here, so you go to florida? obviously, a lot of people do. there's no income tax, no estate tax, but a lot of peep don't like the heat. i'm just saying, you know, maybe people are looking at this wilbur saying there's a lot of high tax states. california is one of them. new york is one of them. tristate, new york city, new jersey, connecticut area, all high tax states. where do we go? that's what politicians count on. >> my guess is he'll be in the sense to bring in more tax than he will lose. i don't think you're going to have vast outbound migration, but i think the question is, did you break safe with the business community when you promise them the temporary tax, people sported it. i don't know very few people in the business community opposed it the first time because we thought, well, he's doing a good job. he's trying to fix it a lot of things in the state budget.
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if he needs the temporary cover, give it to him, but now to extend it, that reminds me that federal income tax was supposed to be a temporary tax to pay for world world war i, limited to pay for world war i. neil: you're right. stayed on, didn't it? >> there's a horrible tendency of temporary taxes to be permanent. neil: i'm surprised business types believe the governor, even good intentions, that any tax and promise for politician for a tax is temporary. i rarely see it. >> well, it's true, but he did incorporate it along with some budgettcuts and reforms, and i think that's what gave it credibility. neil: yeah, i think you're right. wilbur, good seeing you as always. >> good to be on, neil. neil: wilbur ross. i have two rule, avoid parties with clowns and nancy pelosi because i have a problem with the clown's nose, and i have a
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>> political care act was something that was transformative to honor our promise of life, liberty and the pursuit of happiness. >> three years ago, congress enacted, as you know, a health care reform that's already having a very positive impact on millions of lives. neil: cut the cake or is all this just take the cake? democrats celebrating the health care law's third birthday today. wow. who knew. they are really not talking about the lawings 1.3 trillion ten year price tag that doubled the original estimate, no mention of the gag gifts that could be, and, in fact, already
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are facing taxpayers like the slew of new taxes and fees hitting everything from investments to income or all companies dropping workers from their insurance plan or what could be a doctor shortage because docs drop out because they don't think it's worth it. francis newton on the health care fallout. not so happy birthday; right, francis? >> right, not from my perspective. the classic case of good cop, bad cop. the democrats and the republicans operate on fundamentally different facts underlying the economy. the democrats have a notion that the money goes on forever. if the money goes on forever, why wouldn't we help the seniors, why wouldn't we do this? why wowcht we do that? why discriminate against overweight lesbians, and the others say the money -- neil: wait, we were
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discriminating against overweight lesbians? >> they spent 25.3 million, but if the money goes on forever, which has been the case, they say, why would we discriminate against anyone, and the health care bill, why not spend all the money? the thing is the republicans say, look, if we don't cut some costs here and talking about the health care bill and how much it costs, if we don't cut costs, then not only are we not able to do the overweight lesbians, but we can't do the seniors or the kids, ect., and i think this is the fundmental issue to be resolved. the other point -- neil: hold on, stop, stop, you raised a good point. >> okay. neil: i want to focus on this with richard. we got the goodies up front; right, rich? now we found out some of the not-so-goodies, and the not-so-goodies are making people sick. what do you think of that? >> no, they are not making people sick. kids are covered for their
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preexisting conditions. seniors are getting to save on their prescription plans. these are the necessary goodies -- neil: average premiums up 30%, doctors leaving, waiting rooms waiting longer -- >> no, no, neil, in the long term, it saves -- neil: it's not happening now. the costs are double than what they cost. >> the quality of the delivery -- neil: would you dj -- acknowledge costs are higher than original built? >> temporarily. neil: johning you're not so sure? >> not so sure at all. all i'm going to say, neil, is if pelosi's idea of the celebration is a mountain of new taxes, mandates b and uncertainties, crack open the champaigne now. small business owners and nfib represents 350,000 across the nation, democrats, republicans, you name it. they will scared and uncertain about the law that's just going to put them deeper in the hole. neil: and they worry about the costs to richard's point that long term they will ease.
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right now, they are not francis, and it's popping up to the nefarious way with a tax on assets of your home and you sell and make more than $250,000 as a couple, you're hit with a 3.8% medicare tax, and when that hits, it hits folks hard. >> absolutely, it's the old add damage, no such thing as a free lunch. thars the argument. also, to put this new health care reform bill in place during a fiscal collapse is another issue that, you know, it is -- whether you argue temporarily or in the long run, it is currently hurting a lot of people, and ask yourself the question, is it necessary? neil: we're recovering, doing okay, the markets okay, so everything you bemoaning is not happening. what do you say? >> i say that that's not true because we are facing historical fiscal issues never faced before, and, yes, the stock market is up, and, yes, we have
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a gdp dribbles along and jobs dribbling along, but we never had this large discrepancy between the market and the economy juxtaposed against national indicators showing weakness. neil: what she's saying, rich, is this is a ticking time bomb. >> francis has a good point. had 1 -- this is the time where certain people are as a vulnerable in te economy where you want to pass health care. with ipos and stock prices, the top doing better than ever, and 30% of the people more are eligible for foot stamps. this -- neil: i'm not as concerned about way they get, and the very, very poor and whether they are serviced because they will be. i'm concerned about that the vast middle is gouged through the nose. john, that hits these folks hard, the reality of paying for it, and they can't pay for it. >> they just can't, and, again, this is a classic example of how out of touch the government is
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with main street. small businesses are most of the businesses. they create two-thirds of all net new jobs, and, yet, look at obamacare. it ended up picking on small business, neil, while exempting, not just unions and governments, but even the bigger corporations. health insurance tax being a classic example to cost california -- it's going to cost americans more than a quarter of a million jobs and upwards of 35 billion, with a "b," $35 billion in loss sales according it a study we released yesterday. neil: something is wrong with so many companies have part-time workers, leaving the health care plan all together or cutting back on workers, how they are defined by part-time because it gets in the way of this law. we'll debate this on and on as time goes on, and we'll have you all back to discuss another important issue as this show goes on. in the meantime, march madness, president obama, five years of ncaa basketball brackets on time, every time, all the time.
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the budget? well, none of the time. ♪ wing your lawn isn't always easy. but maybe the oblem isn't your lawn. introducing the all-wheel-drive mower from husqvarna. we engineereits unique dri system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge the impossible. find the all- wheel-drive mower exclusively available at lowe's and independent dealers nationwide.
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neil: just trying to think before the big trip, the president's preflight to-do list before he flew off to israel. okay, budget deal? no. tax reform? no. ncaa bracket? yeah. the president put in this year's
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basketball bracket to the barak et to the tee just before taking off to israel leaving, well, a lot of other stuff behind, the tax chairman says the president should stop leading from behind while getting out in front of this march madness. you know, i don't begrudge, i guess, for filling out a bracket. i don't know what that's about. people shove these things my way, fill it out, neil, i think it's about basketball. i think there's a couple teams everyone's watching. i don't think i've been doing that, but that he is, like, a laser on time for all the time, none of this other stuff, and that leads me to believe that stuff's cool and important to you, all this other budget wonkery and silly stuff like constitutionally making sure you tell people how you plan to spend our money is not. what say you? >> well, the president clearly likes being president, but doesn't like to excute his duties. i have a great number, neil.
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with respect to the bracket, the chance of getting the ncaa bracket right is 1 in 9.2quintillion. i don't know what that means. neil: i think it's a deficit. >> no, it's 17 times our debt. pretty close there. neil: i was talking to charlie rangel earlier on this issue, and he more or less tried to make fun of the notion of imujts themselves, whether they are on time or late, regardless, you know, no one really sticks to them, and actually in truth, he's right about that, but he duds make a mockery of the process, not only when you propose budgets late, and other presidents who have done this before. he's developed into an art form, obviously, but when you don't stick to them in the thing, and you blow them away by spending far more than is allocated in them. what do you think of this in >> well, i think submitting a budget's important besides the fact it's required by law because it's the blueprint for
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where we go forward fiscally, and you have to abide by the law. what congress is doing between the ryan budget and murray budget, we're going nowhere fast, and essentially, the question is is president obama going to put forth a budget, stick his neck out, modernize entitlements? guess what, if not, that 17 trillion is 20 trillion by the time he picks his next ncaa bracket. neil: what worries me on the left and the right. when i hear boehner and paul ryan say on this the president's right there's no immediate debt crisis, i understand what they are saying. i'm not taking it out of context, saying there's not a run on the banking system or foreigners pulling money out. i understand that. they are more or less getting ammunition to the president to say, what's the rush? the president said spending is not a problem. nancy pelosi said we don't have to address entitlements, and reid says, if we address entitlements, which we're not, we'll address medicare aid.
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do you know what i'm saying? we might have lost him. well, he got to hear part of the speech. the problem is, folks, we have a situation where if you ignore the problem, it goes away, or you don't even acknowledge the problem, there is no problem. my apologies to you for rattling on here, but this is the essence of this show. way too much money going out. not enough money coming in. when we come back, i think business guys just discovered their own wicked lizzie. not our liz, but elizabeth warren who turns out to be the devil who wants to hike the minimum wage a lot more than what the president is talking about. not nine bucks an hour, not 12 bucks an hour, not 14 bucks an hour, try 22 bucks to the guy she beat who says she gets away
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with this, this recovery is gone. scott brown, next. ♪
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>> if that were the case, the minimum wage today would be $22 an hour. with the minimum wage of $7.25 an hour, it's what happened to the other $$4.75 #. neil: let's be clear here. s democratic senator suggests the minimum wage should be maxing out close to $22 an hour, all things being equal, of course, all things being equal, i would be michael phelps, but that's nots the case, is it? businesses already worrying about the president's push to hike it to nine bucks an hour. warren eking out the victory
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over my next guest, scott brown, who found that race to be never, ever again, although they begged him to run. >> great to have you. >> great to be on, neil, thank you. neil: what do you think of this? she's arguing phenomenon a substantial hike in the minimum wage when a lot of businesses and folkses, say, well, that could put us over the top. >> reviews are important, something that's been done throughout history, but you need to make sure businesses are at the table, number one. number two, to think it would go to $22 an hour, there's many businesses that pay that high wage because it's warranted, but if we do it across the board, it's going to, obviously, increase prices dramatically. what she's failing to understand, and people in washington fail to understand, you already have obamacare, crushing businesses. the 18 new taxes are clicking in. some of them are already doing so. medical device tax, you sell the house, all of those things click in now. then there's unemployment
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insurance, energy costs, costs of gas, food costs, and the margins are shrinks and shrinking and shrinking, and to raise the minimum wage, these are entry level positions, not meant to be there forever, so the -- the fact that you are going to try to put more people out of business, you have to understand that there's a balance that needs to be made, and i don't think that was taken into account. neil: i have to ask about one of the issues of balance discussed of like a lower training wage, in other words, go to mcdonald's, burger king, whatever, starting out, you have a lower wage than some of the people who have been there a little longer. is that a middle ground? >> you need a full, fair, and open discussion with businesses at the tame. what happens in washington -- neil: they never want to raise wages? >> that's not true. they want quality workers and have incentives whether it's through perks, health memberships, you know, trips,
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whatever they are going to keep people there, i have found, in my state, we have, obviously, a higher wage than the national average. we want to keep people in those positions -- neil: yeah, but you take 80% of the money. >> people need to understand it's going to be tradeoffs between higher -- excuse me -- higher costs and fewer jobs. if you're going to go and dramatically increase the minimum wage as being potentially -- she didn't say shemented to do it, but, if, in fact, it's up to $12-$15 al hour, people have understand, consumers, there's going to be a tradeoff. fewer jobs and higher prices. there needs to be a balance. neil: you can make that argument at any level adjusted for inflation. it would be higher, and but leaving that aside, it does seem to be a tone in washington today, more for paying people more, spending more, not cutting back more, not repinchs more,
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what you fame on, and them, you know, sack -- sacrificed everything for. >> when there, a 9.5 trillion dollar debt, and now it's 16.8 trillion in three years, no end in sight, the democrats want to raise taxes more, take money out of the wallets and give it to the federal government. like pigs in a trough and want to spend. until you draw a line and say, hey, enough -- neil: what if they don't see there's a problem? it's up -- >> it's up to the voters country. neil: the voters decided. neil: they did. they are winning the pr war, that is, the idea that republicans take, take, take, cut, cut, cut, and there's no reason to cut, and, you know, look at the economy, look at the markets. what are they talking about? in other words, don't pay attention. >> when you have the bully
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pulpit -- neil: has to be something in the water. they are bragging about it. >> it's a battle. market's up, and i'm not sure why. obviously, corporate profits are up, but when you take into account our debt ceiling issues and then our -- obviously, o national debt and deficits -- neil: are they whistling past the graveyard? >> we'll have an adjustment. i hope not. i hope we continue to build incomes up, keep the corporate profits up, but unless we reform the tax code, unless we reform, obviously, the entitlement programs, unless we get debt and deficit and fiscal issues under control, we're in trouble. neil: senator, i thought you were swimming upstream in massachusetts. amazing, ted kennedy's seat, shocking, actually. maybe you set sights on a national stage where your argument resinates more among folks in the country. are you interested in that? >> i think you need people like me and others. you have rubio, portman, thune,
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good republicans, a lot of good democrats who bring a common sense approach to who we are -- neil: i know that, but would you specifically, scott brown? >> i'm not ruling anything out, but now i'm happy and honored to be a fox contributor. i'll recharge engines and bring my message to the american people and remind them and challenge them -- i want to challenge the administration and challenge both sides to do their job better as americans first, and then if i have an opportunity to play a role in that, i'm looking forward to doing that. neil: all right. actually, that's very judiciously put. >> thank you. neil: scott brown, former senator from the fine state of -- it is a fine state, i used to live there -- >> it is. neil: when we come back, really, harry, blaming seven soldier les' death on what, harry? scary, harry. critics say it's time to leave, harry? ♪ alec, for this mission i upgraded your smart phone.
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neil: harry, really? even the media that doesn't touch him over any remarks, all over for these ones. >> these men and women, our marines were training there, and with the sequester, it's going to cut this stuff back, and i just -- i hope everyone understands sacrifices, sacrifices made by our military, they are significant. neil: former verizon wireless ceo says harry crossed the line. it's one thing to scare people into thinking they are going to eat horse meat, but blaming seven marines' deaths on sequestering cuts. he says that's total horse -- well, we should point out that mr. reid's office put out a statement later on that that was not intended, that it was no quid pro quo, unless, he did
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say, in the same paragraph, these seven dead marines and sequesteration. weird. >> truly. put out a statement, and had it erases what he said? i don't believe that. i think his wordd were outrageous. i think they were irresponsible. you know, neil, we -- i hope, and i'm an optimist, but i hope that the public is beginning to understand that everything that we blame on sequesteration is not true. with starts with the president's chicken limit the sky is falling. i think he was caught in it, and i think senator reid got caught yesterday. i hope that the public is beginning to catch on. neil: you know, the argument goes something like this, denny, enough warnings about bad stuff happening. well, eventually, you'll have bad stuff happening; right? they go back to republicans, sequesteration. >> kneel, it's -- this administration and several of
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our leaders in congress today always seem to want to find somebody else to blame. if it's george bush, if it's the republicans in congress, if it's sequesteration, this is crazy. i mean, when do we start to realize that you cannot blame somebody for everything that goes wrong and take credit for everything that happens that's positive? that's what this administration is doing. neil: but it's a bigger issue here where there's just no appetite to address spending; right? especially when so many, harry reid included, say we don't have a spending problem. how do you argue? sort of like the alcoholic who doesn't admit he's an alcoholic. you're an alcoholic. >> how can we not have a spending problem? neil: i know. by saying we don't, we acknowledge the severity of it, and at the least, you don't do anything about it p on the phone: -- it. >> neil, we have politicians today, that in my opinion, they
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have to find a way to stop pointing fingers and find solutions. neil: what do republicans do because, denny, they have not been better when boehner says there's not an immediate debt crisis. when you have a trillion dollars more going out than coming in, when you pile up $3 billion in debt every day, that's a crisis. >> what i think is any ceo who got up in a quarterly report and showed the financials that this country is showing wouldn't last one more week. they'd be gone. neil: well, here we reward that behavior. >> exactly right. neil: and back with scott browne, they win the pr war saying it's the damn republicans bumming us out and obstructing us and left to our own devices, we'd be humming. >> i have to be optimistic about this, and it can't last that much longer because -- neil: you know the hundred years war lasted a hundred years, and
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i'm sure they said, how much longer? another year. you know what i mean? i think we can understate how bad this gets. >> well, and, by the way, that's exactly what is occurring today, but there comes a point in time, i hope it's not 101 years from now that we begin to realize that we really are in a pickle here, and i think it begins when our politicians start to truly understand that the public has caught on to this charade. neil: the public has not. in the meantime, real quickly, wall street doing fine. the economy, the administration says is doing fine, housing is percolating again. they say, steady as she goes, off to the races. >> wait a minute, as long as the fed continues to dump money into -he economy, the stock market -- neil: the fed -- >> the stock market will do well. this, too, will bite us in, probably, the near term. i -- my expectation is that the
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stock market can't continue to do what it's been doing; however, as long as you have enough cash and the stock market is having reasonably good appreciation in stock price and those stocks pay a good dividend, the public puts money there. this is the safe place to do it. neil: you're right. denny, a professor now, that would be a fun class. i'd fail it, but it would be follow-up. >> nice to be with you. neil: fedex, or fed hex? why a warning from a shipper has me thinking, you know what? maybe we'll all in deep -- ship. ♪ rtant day for us. rtant day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahe and bring it online. atteion on site, attention on site. now starting unit nine. some of the world's cleanestas turbines are now powering some of america's biggest cities.
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od. helping the world keep promises. neil: first day of spring, and is the economy springing back? unemployment down, but a couple of thorns in this otherwise rosy news. fedex's quarterly profit diving by a third now warning this year could be dicey, and next year may be dicier. restaurants seeing the worst sales in three years.
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market watcher francis newton and whether you should be worrying back with john, and richard benjamin. francis, you're getting worried? >> absolutely. it's ancient dow theory. since when is cost cutting equal profits or equal prosperity? it equals profits in some cases, but not prosperity. the shoe is kind of starting to drop. dow theory covers two components. it covers the loss in production and also the consumer side of it. if companies are choosing freight over express airmail, why are they doing that? what's the incentive behind that? and, again, the dow transports show there's international weakness, so it's sort of, like, a matter of time. we have fiscal issues and now we're starting to see some weakness in the dow theory. neil: you know -- >> keep watching, but it's not a good sign. neil: john, i hear from other views who favor other news
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networks who say, you guys, you know, always crapping on the party and saying horrible stuff with what's going on, the market's fine and economy's fine, but your worry is a persistent one is that it's built on a house of cards and buying by the federal reserve to artificially keep things like this; right? >> absolutely, you know, i mean, we talk about fedex here, it should be fedup. it's more like fedup. i think americans, small business owners are just frankly, fedup, and they are scared. there's a wall of uncertainty. obamacare, new taxes, california is here, the highest taxed state in the nation. we have regulations, lawsuits, so a small business owner is just scared. now, they are digging their heels in, just a classic sign of how scared a small business owner, and, frankly, an american is to spend the hard end dollars. it's not just on shipping and delivery. they are holding back on hiring, expansion, you know, maintenance, they are just scared. they are digging in.
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they call it maintenance mode, but we call it fear and uncertainty. neil: companies that are not in fedex have the situation, if you call it that, are doing weird things with their money. in other words, when they splurge, they splurge on -- which, no one should begrudge, shareholders get a higher dividend in the case of apple, or, you know, dell ticks itself private or comcast buys out the rest of nbc from ge, but they are not expanding into new markets, more plants, or new equipment. it's like a judicious dissentive view of cash. that worries me. >> we see that and corporate buybacks in terms of stock and all the things you mention, and people are uncertain, and they are not uncertain because of obamacare. i hate to break it to the guests. they are uncertain -- neil: of obama, period. >> no, the shenanigans --
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neil: he's part of that. >> by a 20 point margin, americans blame the uncertainty on republicans in congress -- neil: why are the president's approval numbers down eight points? >> not as far as congress'. neil: i understand, but, listen, they are down. now, i'm not here to defend the republicans in congress, but i think they've been awful on a lot of the issues, but facts of the matter is it takes two to tango, and both got us in the tangle. i wonder if neither really sees the need to address these issues or the urgency of the issues, those numbers are going to steadily go even more -- >> it's a problem. it's a vicious cycle. people -- neil: we're caught in it. >> exactly, then the economy doesn't do well, the congress starts more shenanigans -- neil: you can understand why people are nervous; right? >> of course i can. of course i can. wages also are not up. neil: right. >> productivity's up, but wages stagnating. that's another economic